On September 7, 1994, about 1600 eastern daylight time, a Cessna 152, N48938, registered to Knight Flight Limited, operating as a 14 CFR Part 91 personal flight, crashed on landing roll out at Lessler Field, Osteen, Florida. The airplane sustained substantial damage and the private pilot was not injured. Visual meteorological conditions prevailed and a VFR flight plan was not filed. The flight originated from Sanford, Florida, about 30 minutes before the accident. The pilot stated he was in cruise flight at about 100 feet agl when he observed and smelled smoke in the cockpit. He looked at the engine instruments and observed the oil temperature gage was redlined. The electrical master switch was turned off, and he made a precautionary landing to a private airfield located at his 12 o'clock position. He landed long and fast. The airplane continued off the end of the runway. He applied left rudder to avoid a ditch, the right wing collided with a tree, and the airplane spun around its vertical axis to the right 180 degrees before coming to a complete stop. Examination of the airplane by a mechanic revealed a melted insulator on the terminal ring connector attached to the oil temperature gauge.